Field of the Invention
The present invention generally relates to online and/or mobile payments and more particularly to a payment system that restricts account use based at least partially on an account user location.
Related Art
More and more consumers are purchasing items and services over electronic networks such as, for example, the Internet. Consumers routinely purchase products and services from merchants and individuals alike. The transactions may take place directly between on-line or conventional merchants or retailers and the consumer, and payment may be made by providing credit card or other financial information. Transactions may also take place with the aid of an on-line or mobile payment service provider such as, for example, PayPal, Inc. of San Jose, Calif. Such payment service providers can make transactions easier and safer for the parties involved. Purchasing with the assistance of a payment service provider from the convenience of virtually anywhere using a mobile device is one main reason why on-line and/or mobile purchases are growing very quickly.
In some situations, it may be desirable to restrict where payments are made using financial information and/or mobile devices. However, conventional solutions to do so are limited. For example, some merchants provide specialized credit cards that may only be used with that merchant. Such solutions are overly restrictive in that they limit the payment functionality of the specialized credit card to a single merchant, and may require the payer to carry around a different specialized credit card for each merchant they may need to make payments to.
Thus, there is a need for an improved restricted payment system.